Metals rally largely priced in, limited upside seen after strong cyclical run: Sandip Sabharwal

Metals and largecaps like ICICI Bank and L&T face macro risks with limited upside, suggesting investors should be cautious about broad market rallies and focus on stock-specific opportunities in sectors like IT and pharma. The market's already priced in much of the potential gains, so investors may see lower returns on popular cyclical stocks going forward.